President Donald Trump announced on Wednesday new 25% on imported vehicles to take effect April 3, a day after, he plans to unveil a new round of tariffs that he says will rebalance trade relationships between the U.S. and a number of countries as he aims to increase domestic manufacturing.

However, many economists predict that Americans may be worse off if tariffs go into effect.

Lawrence White, economics professor at NYU’s Stern School of Business, joined “The Rush Hour” on Thursday to discuss what these tariffs mean for the wallets of New Yorkers, and the economy as a whole.

Tap the video player above to watch the interview.